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Technology Stocks : The New QLogic (ANCR) -- Ignore unavailable to you. Want to Upgrade?

To: KJ. Moy who wrote (18006)	9/12/1998 11:09:00 AM
From: Eleder2020	Respond to of 29386

>>>If price continues to move up at the end of the window, it would appear they will be selling low just that they can recycle the shares(i.e. selling and converting at the same time so that they can pocket the price difference at the time plus discount). I am sorry if I confuse anyone.<<< KJ-I would guess that your scenario actually makes sense and is probably pretty close to the Reg D shareholders thinking. Ed

To: KJ. Moy who wrote (18006)	9/12/1998 8:01:00 PM
From: George Dawson	Read Replies (1) \| Respond to of 29386

KJ, Thank you for an enlightening post. I read it, went biking for about a few hours and thought about it until it made sense. It finally clicked that the Reg D folks don't have to buy shares on the open market to cover. It explains the ballooning short position and the fact that they can short without too much concern. It also explains why it is going to be hard to break out of this range, you don't really have to be concerned about the market price when you can buy plenty inexpensive shares at a fixed price to cover. Do you or does anyone have specific dates and share numbers that must be converted by those dates. If we know this and the short position per month, we should have a better idea about the impact of this process on the "true" share price of Ancor. George D.